Business

Mining giant Glencore faces money laundering probe

Image copyright Getty Images Mining giant Glencore has been ordered by US authorities to hand over records and documents relating to an investigation into money laundering. The subpoena from the US Department of Justice is in relation to compliance with the Foreign Corrupt Practices Act and money-laundering laws. It is regarding business dealings in Nigeria, […]

Business

Water companies have damaged trust, regulator Ofwat says

Image copyright Scott Barbour/Getty Images High levels of payments to bosses and investors by water companies have damaged customer trust, the regulator Ofwat has said. It has published plans which aim to strengthen companies’ incentives to improve customer performance and cut rewards from financial engineering. It comes as the bosses of several water firms prepare […]

Business

KPMG's audit of collapsed drinks firm Conviviality faces probe

Image copyright Reuters The Financial Reporting Council is looking into into KPMG’s audit of ex-Bargain Booze owner Conviviality, which went into administration in April. The watchdog is investigating the preparation of the company’s financial statements for the year to April 2017. Conviviality sold its retail arm, including Bargain Booze and Wine Rack, to food wholesaler […]

Business

Trump administration seeks to block China Mobile in the US

Image copyright Getty Images Image caption State-owned China Mobile is the world’s biggest mobile phone operator. It is listed in Hong Kong and New York The Trump administration has said it does not want one of the world’s biggest phone carriers, China Mobile, to provide telecom services within the US, citing national security concerns. State-owned […]

Business

HTC to axe about a quarter of its global workforce

Image copyright Getty Images Smartphone-maker HTC is to cut 1,500 jobs in Taiwan, about a quarter of its global workforce. The job cuts are part of a “realignment of resources” across the organisation, the company said in a statement. The Taiwanese company has had a tough time competing with the likes of Apple and Samsung. […]

Business

Bankrupt at 29 – how I bounced back

Hyerin Park is a South Korean entrepreneur. Her last project, to generate energy from the tides, ended in debt as she failed to gain permission to integrate to the electricity grid. But she’s back with another idea to tackle the problem of making renewable energy that could revolutionise how communities are powered. Find more stories […]

Business

Firms 'running out of patience' on Brexit

Image copyright Reuters Firms are running out of patience over the lack of progress in the Brexit talks, a major business organisation has warned Theresa May. The British Chambers of Commerce has published a list of 23 “real-world” questions that it says urgently need answers as the UK’s EU exit approaches. The list covers subjects […]

Business

EU diesel car sales 'to fall to 5% by 2030'

Image copyright Getty Images Diesel-powered vehicles are expected to fall to just 5% of the EU car market by 2030, a new study indicates. Worries about air quality and emissions standards have already hit diesel car sales, but consulting firm AlixPartners says the decline will accelerate. Diesels’ share of the European market has already fallen […]